Insurance World


MD/CEO, Sovereign Trust Insurance Plc, Mr. Olaotan Soyinka

The Managing Director/CEO of Sovereign Trust Insurance Plc, Mr. Olaotan Soyinka has revealed that technology has been very instrumental to the organization’s continued growth trajectory in recent times. He made this assertion at a recent media parley held during the company’s Transformation Retreat in Lagos. He said that more than ever, the company is set to take optimal advantage of what technology brings to the table in driving operational efficiency. Furthermore, he posited that the business model currently being run by the organization is basically customer-centric as it has been identified that the customer is supreme in the everyday operations of the underwriting firm.

The Head of ICT for Sovereign Trust Insurance Plc, Mr.  Lekan Oguntunde asserted that “any forward-looking organization must have real time, cutting-edge technology at the fulcrum of its business operations and that is what Sovereign Trust Insurance Plc has adopted in pushing the frontiers of its operations beyond the shores of the country”.

He noted that the company has identified that 21st century technology is the hallmark and arrow-head of any successful business which was what informed the company’s adoption of the second-to-none business application software in the insurance industry known as Eskadenia in 2009 with several upgrades over the years to ensure seamless service delivery that will delight the teeming customers of the underwriting firm.

According to him, the Software was developed using an Object-Oriented programming language which was designed to automate the General Insurance policy life cycles of the company’s customers, reduce operational gridlock, enhance job quality, maintain up-to-date historical data on all businesses generated while ensuring high level of customer confidentiality and security.  

Lekan Oguntunde further mentioned that in order to meet all the functional specifications and technical capabilities as required by its teeming customers, all necessary enhancements have been made on the Eskadenia Software to accommodate the recent changes and ensure the successful execution of the new business model. Conclusively, he stated that “tapping into modern technology can yield plethora of opportunities for any upwardly mobile organization”.

In the same vein, the company’s spokesperson, Mr. Segun Bankole said that in furtherance of the implementation of the adopted business model, technology, especially the social media platforms would be employed in reaching out to the insuring public while at the same time use the medium to sensitize Nigerians both home and abroad on the benefits of taking up an insurance policy with the company.

Sovereign Trust Insurance Plc will continue to provide insurance and financial risk- based management solutions that will strategically position the company as a market leader in the Insurance Industry and consequently impact on the fortunes of its teeming customers and shareholders alike.


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